Description

The report covers forecast and analysis for the unsaturated polyester resin market on a global and regional level. The study provides historical data of 2011 and 2012 along with a forecast from 2013 to 2019 based on both volumes (kilo tons) and revenue (USD million). The study includes drivers and restraints for the unsaturated polyester resin market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the unsaturated polyester resin market on a global and regional level. The drivers, restraints and opportunities mentioned in the report are justified with the help of quantitative and qualitative data which is verified by primary and secondary resources.

In order to give the users of this report a comprehensive view on the unsaturated polyester resin market, we have included a detailed value chain analysis. Value chain analysis will provide details such as integration in the market, distribution channels, applications and end-user for the market. To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model for the unsaturated polyester resin market has also been included. The study encompasses a market attractiveness analysis, wherein product segments are benchmarked based on their market size, compounded annual growth rate (CAGR), general attractiveness and company market share. The report includes company market share analysis which helps to understand business strategies of the major manufacturers in the market.

The study provides a decisive view on the unsaturated polyester resin market by segmenting the market based on product types and applications. All the product and application segments have been analyzed based on present and future trends and the CAGR for the market is estimated between 2013 and 2019. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific and Rest of the World (RoW). This segmentation includes demand for individual applications in all the regions.

Inflation is not a part of pricing in this report. Prices of unsaturated polyester resins vary in each region; hence, a similar volume to revenue ratio does not follow for each individual region. The same price for each application has been taken into account while estimating and forecasting market revenue on the global basis. Regional average price has been considered while breaking down this market by product segment, application, crop type and form type in each region. We use models and estimates in order to produce comprehensive data sets when there is no hard data available.

For the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represented the bulk of research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights and recognizing business opportunities.

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Free Market Analysis

Unsaturated polyester resins are formed from the condensation reaction between polyols and dibasic organic acids. The polyols commonly used in the reaction are ethylene glycols and propylene glycols while acids used are isopthalic acid, maleic anhydride and phthalic anhydride. Currently, most polyester resin manufacturers use glycols and acids as a raw material. Unsaturated polyester resins are classified as orthopthalic, isopthalic, DCPD and others. Orthopthalic polyester resins are based on orthopthalic acid while isopthalic polyester resins are based on isopthalic acid. DCPD are based on dicyclopentadine and are classified as low profile. Other types of polyester resins consist of vinyl ester resins and other specialty resins. Vinyl ester resins are considered premium product due to its higher performance and costs.

Unsaturated polyester resin is majorly used in the building and construction industry in various applications such as roofing, artificial marbles and putty among others. The other significant applications of unsaturated polyester resins include tanks and pipes, aerospace, marine, wind energy and automotive industry. The market experienced a negative growth during the economic slowdown; however, over the past two years, consumption of unsaturated polyester resins has grown steadily due to an increase in demand from the end-user industries.

The global building and construction market is on the rise due to the continuously growing population and changing lifestyles, especially in emerging nations such as China and India. Growth in the construction and urbanization in BRIC countries has been driving the global building and construction market in the recent years. Furthermore, significant growth in tanks and pipes industry owing to demand from chemical industry is also expected to boost the unsaturated polyester resin market. However, the price impact of raw materials such as styrene, maleic anhydride, glycols and pthalic anhydride on end product is anticipated to hamper the growth of the unsaturated polyester resin market. Increasing application scope of polyester resin in the fiberglass market coupled with rising marine industry is expected to open opportunities for the growth of the market over the next few years.

Orthopthalic were the majorly consumed unsaturated polyester resin in the industry in 2012 accounting for around 35% of the global demand. These unsaturated polyester resins are expected to grow within the forecast period on account of their increasing usage in applications such as building and construction, marine, transport and artificial stone among others. Demand for other unsaturated polyester resin such as isopthalic and vinyl ester resin is expected to be steady due to a substantially higher demand from other DCPD grade resins in the near future.

Demand for unsaturated polyester resin was highest from building and construction, accounting for over 25% of the global demand in 2012. The demand for unsaturated polyester resin in the building and construction has been growing rapidly over the past few years and is expected to follow a similar trend over the next few years. Changing lifestyles and urbanization in emerging countries has led to a significant rise in the market, leading to higher demand for unsaturated polyester resin. Furthermore, increasing use of unsaturated polyester resin in tanks and pipes due to its heat resistance and hydrolytic stability is expected to drive unsaturated polyester resin market. Usage of unsaturated polyester resin in tanks and pipes has been significantly growing and is expected to follow a similar trend in the next six years.

The unsaturated polyester resin demand was highest from Asia Pacific in 2012 accounting over 50% of the global market, owing to growing demand from building and construction and tanks and pipes industry. The building and construction industry is currently the largest in Asia Pacific and is expected to significantly grow with the increasing urbanization. However, demand from other regions such as Europe is expected to be low due to certain regulations of regulatory bodies to use styrene monomer as an ingredient in polyester resin. The demand for unsaturated polyester resin is expected to increase in North America due to rising electrical and marine industry.

Companies such as Tianhe Resin Co. Ltd., The Dow Chemical Company, Ashland Inc., BASF SE, and CCP Composites account for less than 10% market share each. In addition, the unsaturated polyester resin market is concentrated due to the presence of multinationals unsaturated polyester resin manufacturers on a global as well as regional level.

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